Since its accession to the WTO, #China has integrated deeply into the #GVC and become a global manufacturing center. But amid the pandemic, countries including the #US and Japan have stepped up onshoring of supply chains...1/6
Under the new situation, maintaining the safety and stability of supply chains has become key to accomplishing the "six priorities" for China...2/6
Despite rumors that foreign companies are withdrawing from China, Chinese market remains attractive to multinational companies and the pressure of supply chain relocation will be relatively small in the short term...3/6
Different industries are under different pressure: the relocation of labor-intensive industries have been long underway; industries eyeing the US market have also begun to shift supply chains out of China; it's difficult for industries with complex supply chains to relocate...4/6
CF40 experts put forward policy suggestions on addressing the potential risks arising from GVC reshuffle:
1. recognize that the background of GVC reshuffle has gone beyond economic scope;
2. create more opportunities for foreign companies to succeed in China...5/6
1. recognize that the background of GVC reshuffle has gone beyond economic scope;
2. create more opportunities for foreign companies to succeed in China...5/6
3. improve the role of the financial sector in supporting China's supply chain;
4. seize the opportunities brought by the new round of globalization propelled by new technologies;
5. participate in international rule-making, including regional economic and trade agreements. 6/6
4. seize the opportunities brought by the new round of globalization propelled by new technologies;
5. participate in international rule-making, including regional economic and trade agreements. 6/6
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